Discover Mongolia takes place

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The 16th Discover Mongolia, an international mining investors’ forum, was held under the theme ‘Acknowledge to Advance’ on September 6-7 in Shangri-La Hotel. Preliminary discussions of the forum took place last week.

The Government of Mongolia, the Ministry of Mining and Heavy Industry, the Mongolian National Mining Association and the Business Council of Mongolia have jointly organized the two-day event.

It aimed to promote a business-friendly environment in the mining sector of Mongolia as this sector earns over 90 percent of the country’s total export revenue. More than 600 delegates from 25 countries participated in the event at which national and foreign investors enjoyed an opportunity to discuss their achievements, new projects and pressing issues.

Minister of Mining and Heavy Industry Mr Sumiyabazar delivered an opening remarks in a number of contents including current situation of the mining sector, Tavan Tolgoi deposit, Oyu Tolgoi Project, geology and exploration, value-added manufacturing, regional integration and infrastructure development as well as further cooperation.

He added that a Bill on establishing a sovereign wealth fund through the development of Erdenes Mongol LLC is being made and the Ministry is working towards the creation of the National Sovereign Wealth Fund to improve the sector’s management, to equally distribute natural resources to our young generations and to ensure sustainable economic growth.

Following the Minister’s remarks, CEO of Oyu Tolgoi LLC Mr Armando Torres delivered a speech, informing about development of Oyu Tolgoi Project and its contribution towards Mongolia’s economy.